01 July 2022
We know that pension fund members are interested in climate change and how the way we invest can encourage good practice in this area. New regulations developed by the Taskforce for Climate-Related Financial Disclosures (TCFD) require the Trustees to collect data about the risks to the Plan’s investments from climate change. We have already been in contact with the Plan’s fund managers and our first TCFD report will be available in 2023.
The Trustee has had a policy on responsible investment for some time — we have been monitoring our fund managers’ voting activity and their underlying policies on responsible investment.
The Trustee is currently working to create a TCFD report which details the action taken by the Plan to identify climate change related risks, as well as opportunities in the Plan’s investments. We will specify targets, against which the Plan’s progress will be measured, and carry out scenario analysis to assess the impact of climate related risks.
The Trustee is compliant with all current regulations on responsible investment and will work to ensure that it is compliant with future regulation as it develops.